Question 1
Can this be completed by noon?,increased as requested...please confirm that you can complete by noon tomorrow Thanks,give me just a minute,did you get the two files?,a pdf and a word file,here you go. please confirm receipt,Thanks. My section is question 1. But I would like a short brief of the remaining questions...if possible.,Awaiting approval? What does that mean? Have you accepted? Thanks. Matt,how long does that take?,I have alraedy done that hours ago. See our previous conversations. The question is awaiting approval...under evaluation. I need to know if this is going to be completed. I sent all of the information to you hours ago and you said that you were evaluating it.,doc file attached,My part of the case is question 1. So, I need that answered. Plus, maybe a brief explaination of the other issues. Please let me know soon...it is due by noon tomorrow to my group members. Thanks Matt,Did you get the doc file? It explains what I need. I need question 1 answered...plus maybe a brief of the remaining issues.,how long will it take do you think? I need it by noon tomorrow...is that reasonable?,great! question 1 is my part of the assignment. However, could you pleae give a brief overview of the remaining parts? Thanks. When do you think you will be done? No trying to be pushy, I just like to be informed of the process> Thanks.,Did you see may last question?,This was due per the contract by noon today. You have not answered my questions from yesterday. I am a bit worried about this. I required this to be completed by 12. Please update me. Thanks Matt
Question 2
1.Companies like J. Crew (www.jcrew.com) and Banana Republic (www.bananarepublic.com) are targeting many of the same consumers as Abercrombie & Fitch. Visit their websites and discuss how their marketing strategies differ from those of Abercrombie & Fitch. Would you suggest any changes in these strategies that would allow these two companies to better position themselves in the minds of consumers? 2.The success of specialty clothing store has come at the expense of large department stores like Sears and JCPenney. What can department stores do to make themselves more relevant to the youth subculture? 3.Check out the Hot Topic website (www.hottopic.com). Compare the stancske (subsubcultures) Hot Topic is aiming for with those of Abercrombie & Fitch. Identify the behaviors, affective responses, and cognitions most important in shopping at each store. 4.How can Abercrombie & Fitch guard against becoming too mainstream and experiencing a customer backlash? Do you believe it is possible for Abercrombie & Fitch to remain popular with young shoppers for a span of many years? 5.Both Abercrombie & Fitch and The Gap are trying to use their brand names to market clothing to different age groups. For example, Abercrombie & Fitch has opened a chain of children's stores called abercrombie (lowercase "a"), while Gap, Inc., has had success with GapKids and BabyGap. Check out www.abercrombiekids.com and discuss the advantages and potential disadvantages of such a diversification strategy.
Question 3
1. The purpose of incremental analysis is to find the alternative (Points :1) with the fewest relevant costs. that brings in the most revenue. that contributes the most to profits. with the lowest fixed costs. 2. Which of the following typically would be considered an incremental cost? (Points :1) Conversion cost Direct product cost Period cost Factory overhead cost 3. Products Green, Red, and White have unit contribution margins of $6.50, $12, and $10, respectively, and require 2, 4, and 3 direct labor hours per unit, respectively. If demand currently is far exceeding supply, on which product should the company concentrate its efforts? (Points :1) Green Red White Either Green or Red 4. Depreciation is a unique expense because it (Points :1) does not require a cash outlay. does not affect income taxes. is the same amount every accounting period. has to be calculated. 5. A project is accepted under the net present value method when (Points :1) the percentage return is greater than a predetermined minimum percentage. total net cash inflows exceed the purchase price of the asset. the purchase price of the asset is less than the present value of net cash inflows. the present value of net cash inflows exceeds a predetermined minimum amount. 6. When using the net present value method to compare keeping an old building or disposing of it and acquiring a new building, the current cash residual value of the old building should be (Points :1) a subtraction from the price paid for the new building. viewed as a cash flow. an addition to the price paid for the new building. irrelevant to the decision. 7. Chicago Co. is interested in purchasing a machine that would improve its operational efficiency. The cost is $200,000 with an estimated residual value of $20,000 and a useful life of eight years. Cash inflows are expected to increase by $40,000 a year. The company's minimum rate of return is 10 percent. The present value of $1 for eight years at 10 percent is 0.467, and the present value of an annuity of $1 at 10 percent and eight years is 5.335. The net present value of the project is (Points :1) $74,520. $120,100. $93,400. $22,740. 8. Memphis Co. is going to purchase a machine for $83,200 that will increase cash flows by $40,000 in the first year, $30,000 the second year, and $25,000 the third year. The machine will have no residual value. The minimum rate of return is 10 percent. The present value factors for the three years are 0.909, 0.826, and 0.751, respectively. The machine's actual rate of return is (Points :1) Unable to determine from the data given greater than 10 percent. less than 10 percent. 10 percent. 9. The method of project selection that brings the time value of money into capital investment analysis is the (Points :1) rate of return on initial investment. net present value method. payback method. accounting rate-of-return method. 10. An internal issue to be considered when setting a price is (Points :1) whether there is a sole source or heavy competition. total demand for the product or service. the quality of material and labor. the number of competing products or services. 11. Which of the following is not a step in the target costing approach to pricing? (Points :1) Define the desired profit to be made on that product. Dictate which products should not be produced. Compute a target cost for the product by subtracting the desired profit from the competitive market price. Identify the price at which a product will be competitive in the marketplace. 12. A common problem associated with transfer pricing occurs when (Points :1) a division purchases inputs for processing from an outside source at a price higher than the internal transfer price. the gross margin pricing method is used to compute the price. a division sells its excess output to an external customer. managers do not agree with the transfer prices of the inputs provided to them or of the outputs of their own division. 13. Division Alpha can purchase a required part from an outside supplier at $35. Division Beta will supply the part at a transfer price of $38.50. Division Alpha's manager should (Points :1) pay the $38.50 price to Division Beta. tell his immediate supervisor that Division Beta is being unreasonable. negotiate an appropriate transfer price with the manager of Division Beta. buy from the outside supplier. 14. Development of a transfer price involves (Points :1) the use of the highest external market price so that the transferring division is very profitable. determination of an appropriate profit markup. computation of the selling and delivery costs of the item being transferred. the use of a team of lawyers representing the outside interests of the company. 15. When a buying division elects to purchase from an outside supplier, (Points :1) the impact on overall company profits is usually not considered in the decision. only fixed costs should be included in the decision analysis. the price from the outside supplier is likely to be more than the incremental cost to the supplying division. overall company profits should be enhanced.,is someone working on this?,solutions for you, needed help on a few, you had a few wrong... 1. Question : The purpose of incremental analysis is to find the alternative Student Answer: with the fewest relevant costs. that brings in the most revenue. that contributes the most to profits. CORRECT with the lowest fixed costs. Points Received: 1 of 1 Comments: 2. Question : Which of the following typically would be considered an incremental cost? Student Answer: Conversion cost Direct product cost CORRECT Period cost Factory overhead cost Points Received: 1 of 1 Comments: 3. Question : Products Green, Red, and White have unit contribution margins of $6.50, $12, and $10, respectively, and require 2, 4, and 3 direct labor hours per unit, respectively. If demand currently is far exceeding supply, on which product should the company concentrate its efforts? Student Answer: Green Red White CORRECT Either Green or Red INCORRECT Points Received: 0 of 1 Comments: 4. Question : Depreciation is a unique expense because it Student Answer: does not require a cash outlay. CORRECT does not affect income taxes. is the same amount every accounting period. has to be calculated. Points Received: 1 of 1 Comments: 5. Question : A project is accepted under the net present value method when Student Answer: the percentage return is greater than a predetermined minimum percentage. total net cash inflows exceed the purchase price of the asset. the purchase price of the asset is less than the present value of net cash inflows. CORRECT the present value of net cash inflows exceeds a predetermined minimum amount. Points Received: 1 of 1 Comments: 6. Question : When using the net present value method to compare keeping an old building or disposing of it and acquiring a new building, the current cash residual value of the old building should be Student Answer: a subtraction from the price paid for the new building. CORRECT viewed as a cash flow. an addition to the price paid for the new building. irrelevant to the decision. INCORRECT Points Received: 0 of 1 Comments: 7. Question : Chicago Co. is interested in purchasing a machine that would improve its operational efficiency. The cost is $200,000 with an estimated residual value of $20,000 and a useful life of eight years. Cash inflows are expected to increase by $40,000 a year. The company's minimum rate of return is 10 percent. The present value of $1 for eight years at 10 percent is 0.467, and the present value of an annuity of $1 at 10 percent and eight years is 5.335. The net present value of the project is Student Answer: $74,520. $120,100. $93,400. $22,740. CORRECT Points Received: 1 of 1 Comments: 8. Question : Memphis Co. is going to purchase a machine for $83,200 that will increase cash flows by $40,000 in the first year, $30,000 the second year, and $25,000 the third year. The machine will have no residual value. The minimum rate of return is 10 percent. The present value factors for the three years are 0.909, 0.826, and 0.751, respectively. The machine's actual rate of return is Student Answer: Unable to determine from the data given greater than 10 percent. less than 10 percent. CORRECT 10 percent. Points Received: 1 of 1 Comments: 9. Question : The method of project selection that brings the time value of money into capital investment analysis is the Student Answer: rate of return on initial investment. net present value method. CORRECT payback method. accounting rate-of-return method. Points Received: 1 of 1 Comments: 10. Question : An internal issue to be considered when setting a price is Student Answer: whether there is a sole source or heavy competition. total demand for the product or service. the quality of material and labor. CORRECT the number of competing products or services. Points Received: 1 of 1 Comments: 11. Question : Which of the following is not a step in the target costing approach to pricing? Student Answer: Define the desired profit to be made on that product. Dictate which products should not be produced. CORRECT Compute a target cost for the product by subtracting the desired profit from the competitive market price. Identify the price at which a product will be competitive in the marketplace. Points Received: 1 of 1 Comments: 12. Question : A common problem associated with transfer pricing occurs when Student Answer: a division purchases inputs for processing from an outside source at a price higher than the internal transfer price. the gross margin pricing method is used to compute the price. a division sells its excess output to an external customer. managers do not agree with the transfer prices of the inputs provided to them or of the outputs of their own division. CORRECT Points Received: 1 of 1 Comments: 13. Question : Division Alpha can purchase a required part from an outside supplier at $35. Division Beta will supply the part at a transfer price of $38.50. Division Alpha's manager should Student Answer: pay the $38.50 price to Division Beta. tell his immediate supervisor that Division Beta is being unreasonable. negotiate an appropriate transfer price with the manager of Division Beta. CORRECT buy from the outside supplier. Points Received: 1 of 1 Comments: 14. Question : Development of a transfer price involves Student Answer: the use of the highest external market price so that the transferring division is very profitable. determination of an appropriate profit markup. CORRECT computation of the selling and delivery costs of the item being transferred. INCORRECT the use of a team of lawyers representing the outside interests of the company. Points Received: 0 of 1 Comments: 15. Question : When a buying division elects to purchase from an outside supplier, Student Answer: the impact on overall company profits is usually not considered in the decision. only fixed costs should be included in the decision analysis. the price from the outside supplier is likely to be more than the incremental cost to the supplying division. overall company profits should be enhanced.
Question 4
Prepare an 11- to 15-page paper (not including the title and reference pages) that assesses a legal/ethical issue or situation relating to a current, previous, or potential future work environment. Use at least 10 scholarly sources that are suitable for research in a graduate-level course. Your paper must include the following:: 1.A description of a business situation that presents a legal and ethical issue. The business situation must be from prior, current, or anticipated future employment experiences or from a current event. The description of the business situation must not exceed two pages. 2.An analysis of the ethical concerns raised by the situation. a.Apply at least two different ethical theories to the situation to support at least two different outcomes. b.The paper must determine which ethical outlook as applied to this particular situation will result in the best legal outcome for the business. 3.An explanation of at least three of the relevant areas of law that have been addressed in this course (e.g., constitutional law, contracts, anti-trust law, securities regulations, employment law, environmental law, crimes, or torts) and an assessment of the each area of law as it applies to the business situation identified. 4.A recommendation to reduce liability exposure and improve the ethical climate or the overall ethics of the situation. Your recommendation must be supported by specific legal, ethical, and business principles.
Question 5
Foundations of Accounting I Accounting Project Written by: Karen Pitsch Donna?s Entertainment is a merchandising business. Their account balances as of November 30, 2012 (unless otherwise indicated), are as follows: 110 Cash $ 73,920 112 Accounts Receivable 34,250 113 Allowance for Doubtful Accounts 11,000 115 Merchandise Inventory 123,900 116 Prepaid Insurance 3,750 117 Store Supplies 2,850 123 Store Equipment 100,800 124 Accumulated Depreciation-Store Equipment 20,160 210 Accounts Payable 21,450 211 Salaries Payable 0 218 Interest Payable 0 220 Note Payable (Due 2017) 15,000 310 P. Williams, Capital (January 1, 2012) 73,260 311 P. Williams, Drawing 50,000 312 Income Summary 0 410 Sales 853,445 411 Sales Returns and Allowances 20,020 412 Sales Discounts 13,200 510 Cost of Merchandise Sold 414,575 520 Sales Salaries Expense 74,400 521 Advertising Expense 18,000 522 Depreciation Expense 0 523 Store Supplies Expense 0 529 Miscellaneous Selling Expense 2,800 530 Office Salaries Expense 40,500 531 Rent Expense 18,600 532 Insurance Expense 0 533 Bad Debt Expense 0 539 Miscellaneous Administrative Expense 1,650 550 Interest Expense 1,100 Donna?s Entertainment uses the perpetual inventory system and the First-in, Last-out costing method. Transportation-in and purchase discounts should be added to the Inventory Control Sheet, but since this will complicate the computation of the First-in, Last-out costing method, please ignore this step in the process. They also use the Allowance Method for bad debt. The Accounts Receivable and Accounts Payable Subsidiary Ledgers along with the Inventory Control Sheet should be updated as each transaction affects them (daily). Donna?s Entertainment sells four types of television entertainment units. The sale prices of each are: TV A: $3,500 TV B: $5,250 TV C: $6,125 PS D: $9,000 During December, the last month of the accounting year, the following transactions were completed: Dec. 1. Issued check number 2632 for the December rent, $2,600. 3. Purchased three TV C units on account from Prince Co., terms 2/10, n/30, FOB shipping point, $11,100. 4. Issued check number 2633 to pay the transportation changes on purchase of December 3, $400. (NOTE: Do not include shipping and purchase discounts to the Inventory Control sheet for this project.) 6. Sold four TV A and four TV B on account to Albert Co., invoice 891, terms 2/10, n/30, FOB shipping point. 10. Sold two projector systems for cash. 11. Purchased store supplies on account from Matt Co., terms n/30, $580. 13. Issued check to Prince Co. number 2634 for the full amount due, less discount allowed. 14. Issued credit memo for one TV A unit returned on sale of December 6. 15. Issued check number 2635 for advertising expense for last half of December, $1,500. 16. Received cash from Albert Co. for the full amount due (less return of December 14 and discount). 19. Issued check number 2636 to buy two TV C units, $7,600. 19. Issued check number 2637 for $6,100 to Joseph Co. on account. 20. Sold five TV C units on account to Cameron Co., invoice number 892, terms 1/10, n/30, FOB shipping point. 20. For the convenience of the customer, issued check number 2638 for shipping charges on sale of December 20, $700. 21. Received $12,250 cash from McKenzie Co. on account, no discount. 21. Purchased three projector systems on account from Elisha Co., terms 1/10, n/30, FOB destination, $15,600. 24. Received notification that Marie Co. has been granted bankruptcy with no amount of recovery. We are to write-off her amount due. (Note: See page 402 for entry required.) 25. Issued a debit memo for return of $5,200 because of a damaged projection system purchased on December 21, receiving credit from the seller. 26. Issued check number 2639 for refund of cash on sales made for cash, $600. (Customer was going to return goods until an allowance was arranged.) 27. Issued check number 2640 for sales salaries of $1,750 and office salaries of $950. 28. Purchased store equipment on account from Matt Co., terms n/30, FOB destination, $1,200. 29. Issued check number 2641 for store supplies, $470. 30. Sold four TV C units on account to Randall Co., invoice number 893, terms 2/10, n/30, FOB shipping point. 30. Received cash from sale of December 20, less discount, plus transportation paid on December 20. (Round calculations to the nearest dollar.) 30. Issued check number 2642 for purchase of December 21, less return of December 25 and discount. 30. Issued a debit memo for $300 of the purchase returned from December 28. Instructions: 1. Enter the balances of each of the accounts in the appropriate balance column of a four-column account (General Ledger). Write Balance in the item section, and place a check mark (x) in the Post Reference column. 2. Journalize the transactions in a sales journal, purchases journal, cash receipts journal, cash payments journal, or general journal as illustrated in chapter 7. Also post to the Accounts Receivable and Accounts Payable Subsidiary ledgers and Inventory Control Sheet as needed. 3. Total each column on the special journals and prove the journal. 4. Post the totals of the account named columns and individually post the ?other? columns as well to the General Ledger. 5. Prepare the Schedule of Accounts Receivable and the Schedule of Accounts Payable (their total amount must equal the amount in their controlling general ledger account). 6. Prepare the unadjusted trial balance on the worksheet. 7. Complete the worksheet for the year ended December 31, 2012, using the following adjustment data: a. Merchandise inventory on December 31 $90,800 b. Insurance expired during the year 1,250 c. Store supplies on hand on December 31 975 d. Depreciation for the current year needs to be calculated. The business uses the Straight-line method, the store equipment has a useful life of 10 years with no salvage value. (NOTE: the purchase and return will not be included as the dates of the transactions were after the 15th of the month). e. Accrued salaries on December 31: Sales salaries $1,400 Office salaries 760 2,160 f. The note payable terms are at 8%, payment is not being made until Jan. 3, 2013. Interest must be recognized for one month. g. Net realizable value of Accounts Receivable is determined to be $27,950. 8. Prepare a multiple-step income statement, a statement of owner?s equity, and a classified balance sheet in good form. (Recommend review of ?Current Liabilities? on pages 166 & 167 and ?Current Maturities of Long-term Debt? on page 480.) 9. Journalize and post the adjusting entries. 10. Journalize and post the closing entries. Indicate closed accounts by inserting a line in both balance columns opposite the closing entry. 11. Prepare a post-closing trial balance. Check Figures Check Figures for Accounting Project: Cash Receipts Journal; Cash Column: 97,939 Unadjusted Trial Balance Total: 1,080,620 Net Income: 264,350 Post Closing Trial Balance: 347,490
